On the Beach
ISIS Equity Partners has invested in On the Beach, an online retailer of beach holidays.
Established by Simon Cooper in 2004, On the Beach has grown quickly to become a leading player in the online travel market. It provides consumers with a huge selection of flights and over 30,000 hotels from which to choose and build their own holiday on-line.
On the Beach is already experiencing significant levels of repeat custom from its satisfied customer base and is growing through word of mouth recommendation as well as its on-line marketing activities.
Working with ISIS, Cooper has appointed John Donaldson and David Scowsill as Non-Executive Directors and Geoff Wood as Finance Director. ISIS and Cooper plan to grow the business further through the addition of hotel and air content and expansion into new products.
The investment was led by Andy Gregory, Daniel Smith and James Titmuss of ISIS. Daniel Smith and Adam Holloway of ISIS will take seats on the board of On the Beach.
Andy Gregory said: "Simon Cooper has built On the Beach around the needs of its customers, putting them in control of all aspects of their beach holiday and providing them with the best tools to make their choices. Consumers get exactly what they want at prices that they know are outstanding value for money. It is a compelling story and ISIS is very excited to be working with Simon to expand On the Beach's capabilities and reach in what is a very fast growing market."
Daniel Smith added: "The UK travel market has been going through significant structural change for a number of years. The penetration of the internet and then broadband, increasing number of holidays taken per annum and the success of low cost airlines are just some of the contributing factors. On the Beach is part of this transformation and its combination of choice, value and service while putting control in the hands of the consumer make it one of the most exciting companies in the sector and one that ISIS is thrilled to invest in."
On the Beach CEO, Simon Cooper agrees: "We have come a long way in the last three years, growing passenger volumes to over 200,000 from a standing start. Now the time is right for the next phase in the company's development. ISIS was the clear choice for us. Their understanding of the sector enabled us to build a great relationship with them quickly. They have introduced us to exceptional industry contacts, two of whom we have already added to our board. We are delighted to have ISIS as a supportive and innovative partner for the exciting times ahead."
Published: 27 November, 2007
